Cointime

Cointime

Download App
iOS & Android

Institutional BTC Purchase in the Works? Mysterious Wallet Transfers $2.95 Billion USDT to Exchanges Ahead of ETF Decision

Validated Project

As the market eagerly anticipates the U.S. Securities and Exchange Commission's (SEC) potential approval of the first Spot Bitcoin ETF in the coming hours, the spotlight turns to the substantial seed funds invested by various issuers. Notably, VanEck has infused $72.5 million into its Spot Bitcoin ETF, BlackRock has committed $10 million, and Fidelity has allocated $20 million.

Further reading：The Fate of Spot Bitcoin ETF in SEC Commissioners’ Hands: Diverse Perspectives on Cryptocurrency

Intriguingly, data from SpotOnChain reveals that in the past three months, 5 billion USDT were minted on the Ethereum network, with a whopping $2.95 billion flowing into a wallet beginning with 0x1db. This massive influx of funds, predominantly transferred to centralized exchanges like Coinbase, Kraken, and Binance, raises speculation about whether institutions are positioning themselves in anticipation of the ETF.

https://twitter.com/spotonchain/status/1744920351497457909

(via Spot On Chain)

The approved spot ETFs are mandated to adopt a 'cash creation/redemption model', where Authorized Participants (APs) deal with the ETF in cash. This influx of institutional cash is expected to be utilized by fund managers to purchase Bitcoin. According to Matthew, Digital Research Lead at VanEck, rumors of BlackRock arranging over $2 billion in the ETF's first week suggest that institutions might have been positioning in Bitcoin spot markets over the last three months.

https://twitter.com/Timccopeland/status/1743358421540208655

Further reading：BlackRock Awaits Green Light for Spot Bitcoin ETF: A $2 Billion Leap into Crypto

Matthew's conservative estimate, based on the first gold ETF's trading volume, projects a potential $40 billion market for the Spot Bitcoin ETF in the next two years, far exceeding initial expectations if the rumored $2 billion transaction materializes in the first week.

Click here to register with DigiFinex and enjoy cryptocurrency trading.

Keywords: Spot Bitcoin ETF, SEC, Institutional Investment, USDT, Centralized Exchanges, VanEck, BlackRock, Fidelity, SpotOnChain, Cryptocurrency, Digital Assets, Market Speculation

Comments

All Comments

Recommended for you

  • BTC Surpasses $82,000

    Market data shows that BTC has surpassed $82,000, currently priced at $82,038.65, with a 24-hour increase of 0.31%. The market is experiencing significant volatility, so please ensure proper risk management.

  • ETH Surpasses $2400

    Market data shows that ETH has surpassed $2400, currently priced at $2400.26, with a 24-hour decline of 1.33%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Surpasses $81,000

    Market data shows that BTC has surpassed $81,000, currently priced at $81,016.34, with a 24-hour decline of 1.53%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Falls Below $80,000

    Market data shows that BTC has fallen below $80,000, currently priced at $79,940.09, with a 24-hour decline of 3.44%. The market is experiencing significant volatility, so please ensure proper risk management.

  • Philadelphia Semiconductor Index Set to Lose Over $2 Trillion in Market Value in Seven Trading Days

    The Philadelphia Semiconductor Index is poised to evaporate over $2 trillion in market value within seven trading days.

  • Philadelphia Semiconductor Index Drops 4% to Lowest Level in Nearly a Month

    The Philadelphia Semiconductor Index fell by 4.01% during the day, currently reported at 11,215.37 points. Nvidia dropped by 3.25%, Broadcom fell by 2.87%, Micron decreased by 5.79%, Intel declined by 5.81%, AMD dropped by 6.28%, Qualcomm rose by 0.66%, TSMC fell by 4.37%, and ASML decreased by 3.34%.

  • Philadelphia Semiconductor Index Falls 4% to Lowest Level in Nearly a Month

    The Philadelphia Semiconductor Index dropped 4.01% during the day, currently reported at 11,215.37 points. Nvidia fell by 3.25%, Broadcom by 2.87%, Micron by 5.79%, Intel by 5.81%, AMD by 6.28%, Qualcomm rose by 0.66%, TSMC fell by 4.37%, and ASML dropped by 3.34%.

  • Ripple Prime Launches Perpetual Contract Trading Services for Institutional Clients

    According to Bloomberg, Ripple's main brokerage division, Ripple Prime, is launching perpetual contracts for real-world assets (RWA) aimed at institutional clients, covering over 100 reference markets including stocks, indices, ETFs, and commodities. This product is offered through Trade.xyz on Hyperliquid, continuing Ripple Prime's previous initiative to provide clients with access to cryptocurrency perpetual contract trading.

  • NYC Comptroller Urges Anthropic to Pause IPO Plans

    On October 15, New York City Comptroller Mark Levine stated in an interview that he has written to Anthropic CEO Dario Amodei, urging the company to suspend its planned initial public offering (IPO). In the letter, he called for Anthropic to pause its IPO plans until it can fully and transparently address concerns related to AI safety, governance, and development that the company itself has raised. Levine wrote that the company should focus on mitigating these risks rather than advancing the IPO. Currently, New York City has an investment exposure of less than $10 million in Anthropic through the private market.

  • US September PPI Rises 6.3% Year-on-Year, Exceeding Market Expectations

    The US Producer Price Index (PPI) for September recorded a year-on-year increase of 6.3%, the highest since May 2026, surpassing market expectations of 5.3%. The month-on-month PPI for September was reported at 1.3%, significantly higher than the market forecast of 0.5%. Additionally, US retail sales for September showed a month-on-month increase of 0.8%, also exceeding market expectations.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company